Friday, April 01, 2005

Insurance companies get hit

Insurance shorts: CB STA FAF FFH PTP TRH ABK and many other smaller ones

Thanks to AIG we have an entire group heading in the toilets. A lot of these stocks have sold off on heavy volume, rallied on lower volume, and most have failed at key moving averages. For the stocks in this group that have either gone too far past there moving averages or too far below last support, you should wait for a rally. For the others just tagging the averages or just breaking support short at will this group is in trouble for the time being.

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